The correct answer is (d) Step up and step down the voltage
To elaborate: The output voltage of the buck-boost converter is Vo = D×Vin ÷ (1-D). It can step up and step down the voltage depending upon the value of the duty cycle. If the value of the duty cycle is less than .5 it will work as a buck converter and for duty cycle greater than .5 it will work as a boost converter.